AMP Bank

AMP Bank is a digital banking platform designed to help Australian residents manage their everyday financial needs through mobile and web-based tools. The app provides transaction accounts, savings accounts, and term deposit options for both personal banking and small business use.

The core banking functionality includes the ability to view statements, manage account balances, and conduct transfers in real time through the AMP Bank GO mobile app. Users can access their accounts 24/7 and set up alerts for banking and superannuation activities. The platform supports multiple account types, allowing customers to organize their finances by opening up to five term deposit accounts alongside their main transaction account.

Key financial products available through the platform include everyday transaction accounts with no monthly fees, savings accounts offering competitive interest rates, and fixed-term deposits with guaranteed interest rates and $5,000 minimum deposits. Term deposits are available in 6-month and 12-month terms, with interest paid at maturity. The savings account offers rates of up to 4% depending on account balance, while overdraft facilities are available at specified rates.

For business users, AMP Bank GO includes features tailored to small business operations. The platform enables businesses to accept in-person payments through Live Payments, a secure payment platform with processing fees starting from 1.00%. The app also includes budgeting tools such as "spaces" functionality, which allows funds to be organized into separate buckets while maintaining an overall account balance.

The platform prioritizes accessibility and account management convenience. Users can complete account opening entirely through the mobile app, with verification typically occurring within 24 hours for standard accounts. The AMP Bank GO app is available on both iOS and Android devices, while additional account management features are accessible through the My AMP web portal.

All deposit accounts are covered under the Financial Claims Scheme, providing protection for customer funds. The platform requires standard identification and verification documents to open accounts, with eligibility requirements varying slightly between personal and business account types.

Website: amp.com.au

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